JC Penney Reports 2Q Loss

PLANO (AP) — J.C. Penney is reporting a loss of $62 million in its fiscal second quarter.

The Plano-based company had a loss of 20 cents per share.

Losses, adjusted for one-time gains and costs, came to 9 cents per share, which is 3 cents short of Wall Street expectations, according to a survey by Zacks Investment Research.

The department store posted revenue of $2.96 billion in the period, which beat Street forecasts. Six analysts surveyed by Zacks expected $2.87 billion.

J.C. Penney Co. expects full-year earnings in the range of 40 to 65 cents per share.

(© Copyright 2017 The Associated Press. All Rights Reserved. This material may not be published, broadcast, rewritten or redistributed.)


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